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Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

FTSE 100 movers: Centrica slumps; DS Smith surges after update

(Sharecast News) - London's FTSE 100 was down 0.1% at 6,981.15 in afternoon trade on Monday. British Gas owner Centrica slumped amid reports that ministers are pushing ahead with plans to cap prices at renewable energy generators, after talks failed to persuade them to voluntarily fix contracts well below the current wholesale rates.

According to The Times, a cap to stop renewable electricity generators cashing in on soaring power prices could rake in up to £14bn a year for the Treasury.

Going the other way, DS Smith surged to the top of the index after the paper and packaging group said its performance for the full year was set to be ahead of expectations. Peers Smurfit Kappa and Mondi also racked up strong gains.

Unite Group rallied after the student accommodation provider said full-year earnings were on track to come in at the top end of expectations as student numbers continue to grow.

FTSE 100 - Risers

Smith (DS) (SMDS) 274.20p 13.40% Smurfit Kappa Group (CDI) (SKG) 2,644.00p 7.83% Mondi (MNDI) 1,433.50p 5.91% Unite Group (UTG) 830.50p 4.40% M&G (MNG) 173.05p 4.37% Kingfisher (KGF) 213.60p 3.89% Next (NXT) 4,613.00p 3.50% B&M European Value Retail S.A. (DI) (BME) 317.70p 3.49% Ocado Group (OCDO) 447.00p 3.45% Croda International (CRDA) 6,750.00p 3.21%

FTSE 100 - Fallers

Centrica (CNA) 68.68p -3.19% Diageo (DGE) 3,640.00p -2.50% Fresnillo (FRES) 772.60p -1.90% Rolls-Royce Holdings (RR.) 69.38p -1.73% AstraZeneca (AZN) 9,885.00p -1.45% BAE Systems (BA.) 834.20p -1.42% National Grid (NG.) 895.20p -1.41% Haleon (HLN) 275.55p -1.34% Endeavour Mining (EDV) 1,570.00p -1.26% Severn Trent (SVT) 2,292.00p -1.21%

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Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

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